Forex strategy for CHF/JPY is bearish: We are currently @ 173.76 in a channel. IF we can break support, we are looking for a continuation to the ATR target @ 172.57 area, with the overall target the S5 @ 1.2631. We have divergence on the 60 min chart. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 151 pips per day and it’s 90-day average is 145 pips per day.